Banks load ATMs with cash amid implementation of N100 withdrawal charge
Banks are loading their ATMs with cash as they commenced charging N100 for transactions on March 1. The Central Bank released the revised ATM transaction […]
Banks
Unseen costs: How banks’ ATM fees and levies exploit Nigerians
On February 10, 2025, the Central Bank of Nigeria announced a significant revision to Automated Teller Machine withdrawal charges, set to take effect from 1 […]
CBN implements $100,000 minimum trade requirement for banks on FX platform
The Central Bank of Nigeria has issued fresh guidelines for interbank foreign exchange trading via the Electronic Foreign Exchange Matching System, mandating a minimum trade […]
FCCPC issues warning to banks over violation of customers’ rights during service disruptions
The Federal Competition and Consumer Protection Commission (FCCPC) has warned financial institutions against continuing disruption in online banking services across Nigeria. A statement by the […]
Unexpected headaches for customers as banks roll out IT upgrades
Commercial banks’ technology upgrades over the past few weeks has caused untold hardships to customers, striking fear into those operating accounts in rural communities. The […]
CBN shares list of licensed deposit money banks for public awareness
The Central Bank of Nigeria has released a comprehensive list of licensed Deposit Money Banks operating within the country. The list, which was made public […]
N82bn Fraud: Banks sack 110 top executives, others
According to The PUNCH, at least 110 senior bank officials and junior employees have been fired for fraud-related crimes during the previous two years. These were contained in the ‘Reports of Fraud and Forgeries in Nigerian Banks’’ released by the Financial Institutions Training Centre between the second quarter […]
Banks, telecos on gaining side as mobile transactions double in Nigeria
Nigerians carried out N12.8 trillion worth of mobile transactions between January and September 2022, more than double the amount recorded in the same period last […]
Sad News! NIMC Portal Breaks Down, Banks, Telcos, Passport Issuance Suffer
Thousands of telecommunication subscribers nationwide seeking to retrieve their lost Subscriber Identity Module cards or acquire new lines temporarily have been left stranded, following a […]
Exposed! How Banks’ defied CBN, sacked over 3,000 workers in 2020
Eight banks in the country in 2020 sacked about 3,754 workers despite warnings by the Central Bank of Nigeria against it. The apex bank had […]
MTN provides alternative platforms for Customers amidst row with Banks
There is an alternative electronic payment platforms for MTN customers in Nigeria to recharge their phones as the mobile network operator on Saturday announced that […]
Stallion motors shut down over Indebtedness to Banks, AMCON
Stallion Motors was shut thursday, following a court judgment, arising from the company’s indebtedness to some Nigerian banks and Asset Management Corporation of Nigeria (AMCON). […]
Presidency charges banks on investment in agriculture
President Muhammadu Buhari has charged the banking sector to keep up its support for the agriculture sector to make the government’s food security programme a […]
Robbers device new method of attacking bank customers
Armed robbers attacking a commercial bank By Douglas Okoro The Ebonyi Police Command on Thursday said it had uncovered a new strategy used by criminals […]
SMEDAN advocates BVN as collateral to access micro-credits
SMEDAN advocates use of BVN as collateral to access micro-credits By Emmanuella Anokam The Small and Medium Enterprises Development Agency (SMEDAN) has called for […]